Casper Sleep Inc. (CSPR) Reports Q2 Revenue About In-Line with Consensus, Offers Guidance

Casper Sleep Inc. (NYSE: CSPR) reported Q2 EPS of ($0.81), $0.47 worse than the analyst estimate of ($0.34). Revenue for the quarter came in at $151.8 million versus the consensus estimate of $151.28 million.

GUIDANCE:

Casper Sleep Inc. sees Q3 2021 revenue of $152-159 million, versus the consensus of $156 million.Casper Sleep Inc. sees FY2021 revenue of $580-610 million, versus the consensus of $609.4 million.

• The Company today provided an outlook for certain financial metrics for the quarter ending September 30, 2021 (“third quarter 2021”) and the year ending December 31, 2021 (“full year 2021” or “2021”), reflecting certain assumptions by management regarding the Company’s business, trends, seasonal factors, and the continuing impact of industry-wide supply chain challenges and the COVID-19 pandemic on its business. In addition, the outlook assumes there will be no material changes in world events, recent consumer trends, economic conditions, competitive landscape or other circumstances beyond our control that may adversely affect the Company’s results of operations.
• In the third quarter 2021, the Company expects revenue of approximately $152 to $159 million, a net loss of approximately $22.6 to $19.6 million, and an Adjusted EBITDA loss of approximately $12.5 to $9.5 million. At the mid-point, this revenue range represents 25.9% growth in the third quarter 2021 versus the prior year period. For full year 2021, the Company expects revenue of approximately $580 to $610 million. At the mid-point, this revenue range represents 19.7% growth and 25.8% North America revenue growth for 2021 versus full year 2020. Assuming that manufacturing and supply chain capacity increases, materials shortages, labor and shipping constraints lessen, and inflationary pressure on input materials subsides, as anticipated, the Company expects to achieve Adjusted EBITDA profitability during 2022.

For earnings history and earnings-related data on Casper Sleep Inc. (CSPR) click here.

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